KOTA KINABALU: Sabah has signed an agreement to acquire a 25% stake in PETRONAS Chemicals Fertiliser Sabah Sdn Bhd (PC FSSB).
The state government, through its wholly-owned company SMJ Sdn Bhd , and PETRONAS Chemicals Group Berhad signed a Heads of Agreement for the acquisition of 25% equity interest in PC FSSB here on Monday .
“This is in addition to the recent acquisition of selected downstream gas pipeline assets and supply of natural gas contracts by Sabah Energy Corporation Sdn Bhd , which makes SEC the largest domestic supplier and transporter of natural gas in Sabah. Mohd Yusri said the divestment was part of PCG’s strategic effort to position itself as a preferred partner in shaping and delivering the aspirations of the company to sustain and grow the petrochemicals business in Sabah.
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